What is the Sales, Revenue, and Price Analysis by Regions of Biosimilars Market?

The market is driven by the rising prevalence of chronic disease, growing investment in research and development by biopharmaceutical organizations, vast pipeline of biosimilars, surging geriatric population, and the cost-efficient nature of biosimilars as compared to approved drugs.

Based on technology, the biosimilars market is classified into monoclonal antibody (mAb), bioassays, nuclear magnetic resonance (NMR), recombinant deoxyribonucleic acid (rDNA), and electrophoresis. Biosimilars manufactured using the mAb technology held 56.0% share in the market in 2018. This technology is further anticipated to be the fastest growing due to its large-scale deployment in the development of therapeutics to treat various diseases, such as immunological, cancer, and infections.

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The biosimilars market is expected to observe the fastest growth in North America, progressing at CAGR of 32.7% during the 2019–2024 period. This can be mainly attributed to the surging geriatric population, increasing prevalence of chronic diseases, and growth in R&D investments.

Companies in North America have more freedom to price their products as they want compared to other regions, and advanced technologies and trained scientific personnel are readily available in here, which make it ideal for pharmaceutical companies.

Furthermore, in January 2019, Samsung Bioepis Co. Ltd. partnered with 3SBio Group to expand the business of biosimilars in China. With the collaboration, Samsung Bioepis Co. Ltd. will seek to enlarge its biosimilars portfolio, while 3SBio Group will be supported by the sales of Avastin.

Some of the key players operating in the market, globally, are Samsung Bioepis Co. Ltd., AMEGA Biotech, Synthon Holding B.V., Coherus BioSciences Inc., Celltrion Inc., BIOCAD, Zydus Cadila, Teva Pharmaceutical Industries Limited, Pfizer Inc., Novartis AG, Dr. Reddy’s Laboratories Ltd., and Mylan N.V.

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Geotechnical Instrumentation and Monitoring Market Insights, Share, Development and Forecast by 2024

Witnessing a CAGR of 11.8% during the forecast period (2019–2024), the global geotechnical instrumentation and monitoring market is predicted to generate a revenue of $6.1 billion by 2024.

The major contributors of the market growth are the consistent growth in the construction sector and the rising number of government regulations for infrastructural development. Another factor supporting the market growth is the rising demand for geotechnical instrumentation in the oil & gas sector.

Taking geography into consideration, the geotechnical instrumentation and monitoring market is expected to exhibit the fastest growth in the Asia-Pacific (APAC) region during the forecast period. This can be attributed to the rising number of infrastructure projects in emerging economies, especially India and China.

To counter the effects of economic slowdown, China is investing heavily in its infrastructure sector. With a total of $219.4 billion, the Chinese government has approved 27 projects since 2018. Therefore, the huge inflow of investments is indicative of the rising demand for geotechnical and monitoring services in the foreseeable future.

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In the APAC region, the highest demand for these instruments and services is being generated from South Asia due to rapid industrialization. The major factors behind this are the presence of upskilled workforce and the availability of cheap labor in the region.

Geotechnical Instrumentation and Monitoring Market Segmentation

Market Segmentation by Component

• Hardware
  • Wired
  • Wireless
• Software
• Services

Market Segmentation by End User

• Energy & Power
• Building & Infrastructure
• Oil & Gas
• Mining
• Others (Landfills and Disaster Response)

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Global Smart Parking Systems Market Finally Showing Potential to Scale

Market Overview

Smart parking systems help the vehicle user to find the nearest parking space and provides information on the availability of parking slots in the parking area. The smart parking systems market includes sensors, real-time data and smart-phone-enabled automated payment systems that allow the users to reserve parking slot in advance. The systems identify the exact state of a parking space, if vacant or occupied, and examines and transmits information to various sources, which include mobile applications, signage and web-based applications.

The parking systems involve a wide range of technologies and equipment that suits to various parking lots. The parking technologies can be designed and modified as per the requirements of various parking spaces available. Residential buildings and complexes have limited flow of passenger cars and SUVs although places like hospitals, shopping malls and corporate hubs have a large number of vehicles coming and exiting from the parking areas on a regular basis. Therefore, the demand for smart parking systems is increasing significantly. The smart parking systems uses well-improvised technologies and equipment for consistent operation during the forecast period (2017-2023). The systems are expected to expand its reach from parking at shopping malls and company parking to various multiple platforms, including public parking by giving parking information, based on cost in real time. Additionally, smart parking systems play a major role in reducing the CO2 emission and help traffic movement in the city more efficiently.

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Industry Dynamics

The global smart parking systems market is expected to witness a CAGR of 15.8% during the forecast period, to reach $4,800 million by 2023. The parking sensors have emerged as the largest segment in the global smart parking systems market. In 2016, Asia-Pacific was among the fastest growing markets, due to growing awareness of end-users about smart parking systems in the region. With the sudden surge in the number of passenger cars in China and India, initiatives taken by different state governments such as smart cities mission is expected to develop better parking and traffic management solutions in India. Due to huge adoption of parking management systems in different cities of Europe, the region dominated the global smart parking systems in 2016. Under the market segmentation by technology, the parking sensor dominated the market as compared to other components in the global smart parking systems market in 2016; however, the steering angle sensors is growing at a faster rate than other technologies.

Trends
The key trend observed in the global smart parking market includes increased consumer preference toward comfort and luxury that leads to high level of competition between OEMs to offer advanced driver assistance systems. The systems allow users to replace its daily, manual cash payments with account invoicing and application payments from their phone. The smart parking systems are being widely adopted by major cities and universities, especially in Europe and North America. In Europe and North America railway platforms, airports, public places and corporate complexes, authorities are planning to set up smart parking systems for better management of their parking areas and heavy traffic congestions.

Growth Drivers
The government initiatives toward the adoption of smart parking systems is one of the major factors driving the smart parking systems market. The demand from upcoming smart cities is expected to drive the global market. With the growing number of hospitals, shopping complexes and corporate hubs, the demand for smart parking systems is increasing. Another important factor driving the market is easy accessibility of smart parking systems, its economic nature and ability to reduce carbon footprints in the atmosphere. It accesses and maps the status of vacant parking spaces from any location through mobile-based apps or web browser. Thus, it significantly reduces the risk of finding the parking spot and also reduces unnecessary travelling time of vehicles across filled parking slots in a city. The smart parking systems reduce CO2 emissions in urban cities by bringing a plunge in search for vacant parking lots by car owners and helping them in properly managing their parking availability and reducing traffic congestions.

Competitive Landscape

The global smart parking market reported a consolidated structure in 2016, where the market is led by a few global players. The key regional players operating in the market include Valeo S.A., Continental AG, Robert Bosch GmbH, Kapsch TrafficCom AG, Cubic Corporation and TKH Group-Park Assist.

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Train Control Management System Market(TCMS) Report, Business Outlook | 2017-2023

The global train control management system market is estimated to generate $4.9 billion revenue by 2023, recording a 8.8% CAGR during the forecast period (2018–2023). The factors driving the growth of the market are an increase in the demand for safety and security of trains and passengers, advancements in railway technology, infrastructural development, and rapidly increasing urban population.

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Train control management system (TCMS) is a system that acts as a single platform for the control for all train sub-systems. It collects information related to tracking circuits and route setting through signaling. The exchange of information happens at two levels: between the train and control center, and among various systems within a train. Thus, such control solutions enable railway companies to monitor the rail traffic and achieve optimum operational efficiency.

On the basis of component, the train control management system sector has been classified into mobile communication gateway, human-machine interface, vehicle control units, and others. Out of these, the vehicle control unit category accounted for the highest revenue in 2017 and is further predicted to hold on to its position as the market leader in the near future as well. Vehicle control units help in the proper functioning of each system within a train, coordination among trains, and train running time and frequency maintenance.

Advancements in the rail technology are driving the growth of the train control management system market

However, due to better operational efficiency, onboard video surveillance features, and enhanced safety and security, the mobile communication category is anticipated to witness the fastest growth during the forecast period. Across the globe, Europe dominated the train control management system industry in 2017 with more than 45.0% revenue share. The expected future scenario is similar, wherein Europe will continue dominating the market.

Hence, countries are either upgrading their existing trains or adopting these TCMS solutions for new rapid transit systems. TCMS ensures the safety and security of the passenger, and thus the train control management system market is expected to progress.

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Attractive Opportunities in Electric Bus Charging Station Market

Supportive government regulations and initiatives, the inclusion of electric buses in the public feet in large numbers, and increasing investment to develop infrastructure for such vehicles are influencing the electric bus charging station market positively. From valuing $6.6 billion in 2018, the market is expected to grow at a 9.7% CAGR during the forecast period (2019–2025), garnering $12.3 billion by 2025. Facilities that are used to charge electric bus batteries  are termed as electric bus charging stations.

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The increasing adoption of electric buses in the public transport network is one of the major driving factors for the electric bus charging station market. For improving the public transport facilities, the major say is of the government of a country, state, or province. The implementation of the Kyoto Protocol in 2005 has shifted the focus of countries toward becoming a low-carbon economy. Therefore, governments are offering subsidies on electric buses and enthusiastically including them in transit services, and military and public transport.

The segments of the electric bus charging station market are region, type, charger, and power. Based on type, the categories of the market are inductive, depot, and opportunity charging. In 2018, the highest sales volume in terms of installation (over 55.0%) was registered by depot charging stations due to the operational similarity of buses using such facilities to diesel buses, which makes them a preferred choice among private and public transport agencies. The highest volume CAGR is expected to be witnessed by the inductive charging category during the forecast period. 

Immense opportunities for the e-bus charging station market growth are present in developing economies. These countries are witnessing a huge increase in their urban population, where employment opportunities are abundant. The World Bank report for 2017 said that in India and Brazil, the urban population constituted 34.0% and 86.0%, respectively, of the total. This huge urban population has necessitated the demand for a better public transportation system. Therefore, to provide transportation services in an environment-friendly way, electric buses, in large numbers, are being procured, thereby leading to a high demand for charging stations. 

Therefore, the market for charging stations for electric buses is headed toward prosperity in the forecast period as these buses are increasingly being deployed in public transport to curb vehicular pollution.

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Low Emission Vehicle Demand Globally- Business Outlook, 2024

The global low emission vehicle market is growing at a significant rate, due to increasing availability of different hybrid electric vehicle models, development in battery technology, and increasing global prices of petroleum based fuel. The strict environmental regulations regarding controlling the increased pollutants from industrial emissions and vehicles are also supporting the growth of the global market.

The increasing popularity of vehicle to grid technology among consumers and high growth in charging infrastructure market are two of the major factors, providing ample growth opportunities for the global market. Some of the major factors restraining the growth of the global market are higher cost of low emission vehicle, lack of power and performance, and lack of supporting infrastructure.

The ground level ozone, particulate matter, volatile organic compounds and nitrogen oxides are some of the primary pollutants, which are present in emissions. Air pollution leads to several diseases, such as asthma, lung cancer and cardiovascular disease. As the number of cases for illness has increased, the government is more focused towards amendment of emission standards and health hazards related with harmful compounds. In metropolitan cities, the growing population and increase in usage of individual transport vehicles is contributing to considerable increase in air pollution. In the various developing countries, such as Brazil, China and India, the secondary cities are being developed as a part of economic development. But inefficient and conventional transport infrastructure in metropolitan cities has led to intensifying levels of vehicle emissions, noise and traffic congestion.

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With the increase in monitoring duties, several guidelines have also been implemented for the amount of fuel usage in low emission vehicle. The favorable government proposals in capitalizing for innovative low emission technologies are expected to reduce the usage of fossil fuel, which will further decrease the air pollution. This has offered opportunities for enhancing the automotive supply chain and has also encouraged the competitors in the market for investing in development of low carbon technologies. The growth of environment friendly automotive companies is positively influenced by low emission vehicle.

The improvisation of automotive components and enhancements in fuel efficiency for providing the renewable fuels are expected to drive the innovation in low emission vehicle. Decarburization in freight and aviation sector is up surging, due to increasing developments in biofuels market. The competitors are increasingly focusing on research and development activities for developing fuel efficient vehicles, due to increasing consumer awareness about low emission vehicle. Moreover, the enhancements in combining renewable and conventional energy systems are expected to drive the growth of the low emission vehicle market during the forecast period. Among all the low emission vehicles, mild hybrid vehicles and plug-in hybrid electric vehicle are growing with a substantial rate, due to decrement in greenhouse gas emissions with the use of such vehicles.

Some of the competitors in the global market are Mitsubishi Motors Corporation, Toyota Motor Corporation, Nissan Motor Co Ltd., Volkswagen AG, Honeywell International Inc., and Bayerische Motoren Werke AG.

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MEA Chiller Market Growing due to Rising Adoption of District Cooling Systems

The MEA chiller market generated a revenue of $1.1 billion in 2018 and is predicted to advance at a CAGR of 3.6% during the forecast period (2019–2024).

The expanding construction industry and adoption of district cooling systems are the factors contributing to the growth of the market. A chiller is used for cooling large facilities; this is achieved by the removal of heat from a liquid through a vapor-compression or absorption refrigeration cycle. Chilled water is generated by chillers, which then facilitates the cooling of buildings.

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A key driving factor of the MEA chiller market is the growing adoption of district cooling systems. The region is increasingly deploying district cooling systems due the rising demand for energy-efficient cooling solutions. Since these systems consume 40–50% less energy than the traditional air conditioning systems, they are a better alternative for cooling requirements of a building. 

Other benefits of district cooling systems include reduced total installed capacity, less occupation of space, and reduced maintenance costs. Because of these factors, these systems are gaining huge momentum among the consumers. 

A major opportunity is created in the MEA chiller market due to the rising demand for solar-powered absorption chillers. The region is becoming more inclined toward the utilization of renewable energy sources due to the surging electricity consumption, which is a concern in MEA, and presence of high solar radiation.

Hence, the market is predicted to witness growth due to the increasing requirement for solar-powered absorption chillers and rising inclination toward magnetic bearing chillers.

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